Iraqi News Highlights Early Thursday Afternoon 11-10-22

Iraqi News Highlights Early Thursday Afternoon 11-10-22

Tlm724 Administrator Bondlady’s Corner

Researcher Detonates A Bomb: Iraqis Lose 2.5% Of The Value Of Their Money Deposited In Banks

848 economy 2022/11/09 23:11  Baghdad today-Baghdad  Economic researcher Rami Jawad, on Wednesday, described  the policy of the Central Bank of Iraq as contributing to inflation, by continuing to grant loans and maintaining a low interest rate, pointing out that depositors in banks lose about 2.5% of the value of their money.

"The central bank's policy is still contributing to the rise in inflation rates, which reached 6%, which is a high percentage, and  the central bank has not taken any measures to reduce the rise in inflation,

but its measures for granting loans and advances, reducing the interest rate and increasing cash issuance have become in the interest of the wealthy and hit the middle and low income people towards the poverty curve," Jawad said in a statement seen by Baghdad today.  He explained that

"the rise in inflation rates in exchange for a decrease in bank interest on deposits below the inflation rate means the loss of depositors in banks, because the real interest rates have become less than 0%," noting that

"depositors are currently losing their balances in favor of borrowers from banks, especially large loans.

In a detailed explanation to clarify the matter, Jawad explained that

"banks grant annual interest on deposits at a rate ranging from (3.5% - 5%), and the current inflation rate (6%),

which means that the real interest on deposits is equal to (the interest rate minus the inflation rate), so the result is negative," which means that

"every depositor currently in banks loses by (2.5% to 1%), so borrowing at low interest in times of high inflation is considered less risky and more profitable for entrepreneurs.

https://baghdadtoday.news/news/205728/باحث-يفجر-قنبلة-العراقيو

The Liabilities Of The Central Bank Of Iraq Increased To 181 Trillion Dinars

Economy , 2022/11/08 17 : 51, number of readings: 171   Baghdad-Iraq today:m    The head of the future Iraq foundation for Economic Studies and consultations, Manar al-Obeidi, on Tuesday,

the increase in the liabilities of the Central Bank of Iraq to 181 trillion, an annual increase of 28%.

According to Al-Obaidi, this rise came as a result of:

- Government balances deposited with the bank increased by an annual rate of 470% to reach 25.6 trillion

- Local banks' deposits with the central bank increased by an annual rate of 38% to reach 40.5 trillion dinars

- The increase of the issued cash by an annual rate of 8.6% to reach 81.67 trillion Iraqi dinars

The assets of the central bank were distributed as follows:

- 71.4 trillion Iraqi dinars in securities held, an annual increase of 74.4%

- The receivables of the Ministry of Finance amounted to 44.6 trillion dinars, an annual decrease of 1.9%

- Deposits with banks amounted to 27.3 trillion Iraqi dinars, an annual decrease of 1.9%

- The gold and cash reserves amounted to 26.9 trillion dinars with an annual increase of 16.9%

- Financing loans for small and medium-sized enterprises amounted to 10 trillion dinars, with an annual increase of 153%%    https://iraqtoday.com/news/67348/ارتفاع-مطلوبات-البنك-المركزي-العراقي-إلى-181-تريليون-دينار

Central Bank Governor Inaugurates International Development Bank Branch In UAE

Yesterday's economy, 22:02   Baghdad-conscious   The governor of the central bank Mustafa Ghalib mukheef, on Wednesday, opened the branch of the International Development Bank of Iraq in the UAE.

A statement from the bank received by the Iraqi News Agency (WA) said that

"the governor of the central bank Mustafa Ghalib mukhaif opened the branch of the International Development Bank of Iraq in the United Arab Emirates/ Dubai". 

Mukheef stressed:  "We are happy and proud to see one of our banks take a position within the UAE banking sector after receiving the trust of the Central Bank of the UAE,

an important event on which we build hopes for our banks to participate with this vibrant sector in the brotherly country."     https://www.ina.iq/170014--.html

The Governor Of The Central Bank Of Iraq Opens The Branch Of The International Development Bank In Dubai

November 10, 2022   His Excellency the governor of the Central Bank of Iraq, Mr. Mustafa Ghalib mukheef, inaugurated on Wednesday the branch of the International Development Bank in the United Arab Emirates/ Dubai.

His Excellency said:  We are delighted and proud to see one of our banks take a position within the UAE banking sector after receiving the trust of the Central Bank of the UAE, an important event on which we build hopes for our banks to participate with this vibrant sector in the brotherly country.

His Excellency wished the bank, its management and employees continued progress and payment.

Media office   Central Bank of Iraq   2022/11/9      https://cbi.iq/news/view/2123

"Raising The Value Of The Iraqi Dinar" Is It In Favor Of The Current Government?"

Sunday, 06-11-2022, AM 10:56 Karar Asadi 262   Written by: Dr. Bilal Al-Khalifa

The last government reduced the value of the Iraqi dinar against the US dollar from 1182 dinars per dollar to 1460 dinars, which reduced the value of the Iraqi dinar by 22.3%, the same value at which market prices rose because they are imported in dollars.

The operation was an instant solution to fill the deficit in financing government expenses, especially paying the salaries of state employees as a result of the drop in international oil prices, to know that 70% of government expenses are operating expenses and that 60% of operating expenses are salaries for employees and retirees, and therefore the last government proposed to solve this problem with the reform White Paper:

1-maximizing non-oil revenues, which are taxes, customs, duties, corporate profits, donations and subsidies, but the same government carried out the largest theft in Iraq in the tax department.

2-the other issue is to reduce public spending, especially operational, which mostly goes to salaries, by stopping appointments in only two ministries (according to the 2021 budget law) and streamlining ministries and departments by canceling the grades of those who are retired, die or transferred, and this point was also violated by the government by appointing large amounts and in the last two days of a caretaker government.

Thus, the devaluation of the Iraqi dinar is an immediate and not a strategic solution, which was due to the depreciation of a barrel of oil, which reached below 20 dollars,

but now the value of a barrel of oil has exceeded 90 dollars, and salaries are insured with an excess of funds, which went to increase the balance of hard currency, gold bullion and US bonds.

And here we wonder and say, is it good to return the old exchange rate to the dollar

We will address the answer to this question from two points of view, the first is from the point of view of the government and the second from the point of view of the citizen.

1-from the government's point of view: the re-exchange of the dollar at the old rate has two explanations

Firstly, the return of the old exchange rate means a reduction in the value of prices in the market and thus indirectly helping the poor citizen, and this means increasing the popularity of the current government because it took an approach contrary to the previous government, which restricted the citizen.

But in return, the amount allocated for public spending will increase by 7 to 10 billion, which can be used for investment spending and the development of the state.

Secondly, maintaining the exchange rate means that the volume of spending is less and the amount of financial surplus is more, especially at current oil prices.the current government is required to carry out reforms and faces very big challenges in all sectors, including electricity, industry and agriculture.

it noted that the amount that can be spent on public spending in the event of a reduction in the exchange rate, can be used to establish electricity projects and it is possible to solve a significant part of at least 50% of the deficit in generation of more than 10 thousand megawatts.

2-from The Citizen's side: usually, the citizen does not know the secrets of the big challenges facing the government in saving salaries or establishing projects, which are also in direct contact with the market, especially the materials that enter into his daily life such as rice, oil and sugar, and this means that the reduction is on the citizen's side.

Conclusion

The reduction is in the interest of the government because it will reduce spending and increase the surplus, and the return of the exchange rate to the old rate is in the interest of the citizen because prices will be much lower.

But in my opinion, the compromise solution is to be the middle ground between the two, i.e. the exchange rate is reduced to 1350 dinars per dollar, and

therefore the citizen is satisfied by reducing prices, and

the government has preserved a large part of the revenues, which can be used in development and strategic projects.   https://www.non14.net/public/152194

Abu Dhabi Ports Signs An Agreement With IDB Bank Of Iraq To Improve Trade Between The Two Countries

Economy   Iraq   breaking   United Arab Emirates    2022-11-09 11:40  Shafaq News / Abu Dhabi Ports Group has signed a preliminary agreement with the International Development Bank of Iraq ("IDB") to explore cooperation opportunities available in ports and logistics projects with the aim of improving trade traffic between the United Arab Emirates and Iraq.

The agreement was signed by: Mohammed Juma Al Shamsi, managing director and CEO of Abu Dhabi Ports Group; and Ziad Khalaf, chairman of the board of Directors of the International Development Bank, according to a statement issued by the group on Wednesday.

Al Shamsi said:  "We have a wide horizon of opportunities and a great scope for improving and modernizing ports, logistics services and economic zones in Iraq, and

there is no doubt that through our cooperation with the International Development Bank, we will explore many available projects that will certainly contribute to enhancing the trade movement between the United Arab Emirates and Iraq".

For his part, Ziad Khalaf, chairman of the board of Directors of the International Development Bank, said:

"strengthening ties between our two brotherly countries contributes to supporting the national economy and improving intra-trade, so we are pleased to conclude this agreement with Abu Dhabi Ports Group, the world leader in the fields of trade, logistics and transport".

"The ports and logistics sectors play a vital role in providing supplies to the Iraqi community across the country, and we are confident in our ability to cooperate on projects with a tangible and sustainable impact in this context," he added.

Khalaf said, "Our goal is to strengthen and deepen the ties of economic and trade cooperation between the United Arab Emirates and the state of Iraq in order to achieve economic twinning between the two brotherly countries through the support of Emirati and Iraqi businessmen and companies.

It is noteworthy that the UAE and Iraq continued to strengthen their trade relations during 2022 through several trade and development agreements.

The World Bank estimates that the Iraqi economy will record a growth rate of about 6.3% over the next two years.   https://shafaq.com/ar/اقتصـاد/موان-بوظبي-توقع-اتفاقية-مع-مصرف-IDB-العراقي-بهدف-تحسين-حركة-التجارة-بين-البلدين

Ranked First In The World.. More Than 47 Thousand Properties Bought By Iraqis In Turkey During 8 Years

353 economy 2022/11/08 12:36  Baghdad today-Baghdad  The Turkish Statistics Authority announced, on Tuesday, the arrangement of the list of buyers of real estate in Turkey within 8 years,

pointing out that Iraqis issued the list by buying more than 47 thousand properties in Turkey.

A statement of the authority, reviewed by Baghdad today, said that

"Iraqis ranked first in the world in terms of foreigners buying real estate in Turkey between 2015 and September of 2022, noting that  "Iraqis bought during this period 47,460 properties".

He added that  "the Iranians came second with 35.060 thousand real estate, then the Russians come third with 27.549 thousand real estate, then the Saudis fourth with 14.174 thousand real estate, then the Kuwaitis fifth with 14.007 thousand real estate, and the citizens of Bangladesh sixth with 13.392 thousand real estate.

The list of buying houses in Turkey since 2015 has recorded the top of Iraqi citizens, but the ranking fell to the second place after Iran by the beginning of this year 2021 to fall to the third place by March 2022 after Russia became the most buyers of Turkish homes.   https://baghdadtoday.news/news/205588/في-المرتبة-الأولى-عالميا

 To read more current and reliable Iraqi news please visit BondLady’s Corner:

 https://www.bondladyscorner.com/

"Tidbits From TNT" Thursday Morning 11-10-2022

TNT:

Tishwash:  Adviser to the Prime Minister: The government plans to adopt international standards for banking reform

Prime Minister Muhammad Shia Al-Sudani is preparing to launch a project described as reformist for the Iraqi economy. 

The Prime Minister's Adviser for Economic Affairs, Abdul-Hussein Al-Anbaki, said in a statement reported by the official newspaper, "Al-Sudani is carrying out a major reform project for the Iraqi economy as a first step for the executive authority."

Al-Anbaki added, "This project works to consolidate the large competitive market, protect vulnerable segments, greatly support the local product, and conduct banking reform that enables the agency to have correspondent banks abroad, and adopt international standards in the field of banking reform and reduce corruption."

He pointed out that "the project also includes empowering the private sector and improving the business environment," expressing his hope "that economic activity outside the state will move forward

link

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Tishwash:  The Iraqi British Business Council Conference kicks off in Dubai

The conference of the Iraqi-British Business Council (IBBC) was launched in Dubai under the slogan (Iraq and identifying business opportunities).

Director of the Iraqi British Business Council IBBC Christoph Michaels said: "The conference sessions will include the sectors of industry, finance, water resources and the environment."

He pointed out: "The main objective of the conference is to advance the reality of the private sector in Iraq to build an economy capable of providing job opportunities for all Iraqis away from the public sector."

And Michaelis: "Most of the world's countries consider the private sector a mainstay in creating a profitable and attractive economic environment for foreign investment, and it has become important in raising revenues and diversifying sources of income."

The conference was attended by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif, the President of the Trade Bank of Iraq Salem Chalabi and representatives of the ministries and governorates, in addition to the UAE Assistant Minister of Trade, the Iraqi ambassador in Dubai, the British ambassador to Iraq, and a number of official figures and representatives of major international companies    link

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CandyKisses:  The Governor of the Central Bank inaugurates the branch of the International Development Bank in Dubai

 Wednesday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated the branch of the International Development Bank in the United Arab Emirates/Dubai

We feel happy and proud when we see one of our banks occupying a position within the UAE banking sector after obtaining the confidence of the Central Bank of the UAE," Makheif said in a statement on the sidelines of the opening

He considered that "the event is important, on which we build hopes that our banks will participate with this vibrant sector in the sister country

He wished the bank, its management and employees continued progress and payment

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CandyKisses:  Expectations of an explosive budget that will reach Parliament at the end of this month

Baghdad / Hussein Hatem

The Parliamentary Finance Committee estimates the budget for the year 2023 at a value of 135 billion, most of which is in the interest of investment and support for the private sector.

The Ministry of Finance announced, at the end of last month, the actual start of preparing the budget law for the year 2023, while indicating that there is no time limit for sending the budget law to the House of Representatives, but work to send it will be as soon as possible.

A member of the Parliamentary Finance Committee, Jamal Cougar, said, "The general financial budget for 2023 will be between 120 and 135 billion dollars."

Cougar added, "The public financial budget consists of two parts. The first part, which is the operating budget, is related to salaries, retirement, the social protection network, and ministries' expenses," adding, "As for the second part, it is represented in the investment budget related to the amounts of new and strategic projects, in addition to private sector projects and job creation." .

He pointed out that "the operational budget for the year 2023 was added to some amounts, as it reached 115 trillion, in contrast to the operating budget for the year 2021, which amounted at the time to 102 trillion."

Cougar explained, "The authority of the Finance Committee relates to two issues, the first is to reduce the numbers if they are exaggerated, and the second issue is the transfer between the doors and it falls within the financial aspect."

He pointed out, "Oil prices will not drop below $80," noting that "the inclusion of appointments in the budget is not within the competence of Parliamentary Finance."

In turn, a member of the House of Representatives, Mohsen Al-Saidi, suggested that "the federal financial budget bill for 2023 by the government will reach the House of Representatives at the end of this month."

Al-Saidi added, "The House of Representatives is waiting for the government to complete the budget bill as soon as possible."

The member of the House of Representatives indicated, "The speedy adoption of the budget law has become an urgent necessity, with the objectives included in the ministerial curriculum voted on by Parliament."

Al-Saidi pointed out that "indications are that the government will speed up preparing the budget and sending it to Parliament at the end of this month," stressing that "there are understandings between the political blocs on the necessity of passing the current year's budget and not obstructing it."

Mot:  When Answering the ""Wee Folks"" Questions.. Get More Clarity first ~~

Mot:  Be Aware! - of the Non Stop Adventures While Raising the ""Wee Folks""

Iraqi News Highlights Early Thursday AM 11-10-22

Iraqi News Highlights Early Thursday AM 11-10-22

Tlm724 Administrator Bondlady’s Corner

Four Local And International Risks Surrounding The" Crisis " Of Reducing The Dollar In Iraq

2,219 economy 2022/11/08 20: 42 hs  Baghdad today-Baghdad

Saleh al-Hashimi, an expert on economic and financial affairs, warned on Tuesday of the risks of changing the exchange rate of the US dollar, in light of political and popular demands to reduce it.

Al-Hashimi told Baghdad today that  "there are great risks surrounding the country in the event that the government reduces the dollar exchange rate against the Iraqi dinar,"

stressing that  "this step will make the country unable to borrow to fill the expected financial deficit in the federal budget.

"The devaluation of the dollar will push Iraq to impose more austerity measures and borrow in any problem faced by the country's fiscal policy in the near or distant future," he added.

"The danger also lies in creating big problems with the International Monetary Fund,

so this file must be handled with extreme caution to avoid falling into those risks, away from political slogans," he explained.  https://baghdadtoday.news/news/205637/أربعة-مخاطر-محلية-ودولية

Without Affecting The Economy.. Expert: The Government Is Able To Reduce The Exchange Rate

8 November 18:21  Information / private.. Economist Zia Al-Mohsen stressed on Tuesday that the current government should work to reduce the exchange rate without affecting the citizen and its economy at the same time.

"The economic steps taken by the new government will contribute to the financial stability of Iraq and lower the exchange rate without affecting the Iraqi economy and citizens," Al-Muhsin said in an interview with Al-Malouma, adding that

"the first steps were to announce the planting of five million dunums of wheat.

He added,  "the agricultural and industrial economic plan in which the Sudanese government is proceeding,

if properly applied to its end, will certainly reduce the exchange rate without affecting any of the parties".

"Most of the central bank's dollar sales go to the import of foodstuffs,

if the state controls the import, the demand will decrease and the central bank will deliberately reduce the exchange rate," he said.

A number of Deputies had announced earlier, about collecting parliamentary signatures from all political blocs in order to work on reducing the dollar exchange rate, and

this decision comes after many appeals from citizens and complaints about the cost of living due to rising prices twice as much as they were before voting to raise the dollar rate in 2020.

https://almaalomah.me/news/economy/دون-التأثير-بالاقتصاد-خبير:-الحكومة-قادرة-على-خفض-سعر-الصرف

Conscious / Exclude The Change In The Value Of The Dinar Against The Dollar In The Budget

November 10, 2022       9 Views  Conscious / Baghdad / G .M  The Parliamentary Finance Committee ruled out a change in the value of the dinar against the dollar in next year's budget,

pointing out that the price of a barrel of oil will not be the same as its predecessor in the budget, especially with the increase in world prices.

“There is an urgent need to make changes in the investment budget to suit the actual need of the country in order to implement the government program of the Sudanese government,” said committee member Jamal Ahmed in an interview with (Iraqi media news agency / WA), that

"there is an urgent need to make changes in the investment budget to suit the actual need of the country in order to implement the government program of the Sudanese government.

“The dollar exchange rate in the budget will remain fixed without any changes,

especially since the central bank is responsible for this policy and has made its opinion clear on this issue,” he added.  He pointed out that

”the price of a barrel of oil in the budget will change from the previous one, and

it is likely that it will be lower than the price offered on the world markets,“

pointing to the importance of ”setting a reserve price for oil in the budget, especially since the world markets may witness an increase in the supply of oil.  https://al-iraqinews.com/archives/310842

Trade Bans 21 Items From Import And Warns Against Dealing With Them In Local Markets

Economy  Wed, 9 Nov 2022 12:18 pm  Baghdad/National News Center

The Ministry of Commerce published, on Wednesday, a list of items prohibited from being imported, while warning against dealing with them in local markets.

The Director General of the financial and Commercial Control Department at the ministry, Mohammed Hanoun, said in a statement received by the National News Center:

“the Department published a list of materials prohibited from importing within the controls that the general company for Iraqi exhibitions issues permits for,”

warning “from dealing with those materials, which included foodstuffs and beverages, including mineral water, energy drink, (beer), pasteurized dairy, ice cream, chips (potatoes and corn), in addition to construction materials such as and the shaker.

The list of prohibited items included military equipment such as military service boots, helmets and military armor,”the statement said.

Hanoun added that  ”the Department's supervisory teams in Baghdad and the provinces, based on the directives of Minister of Commerce Athir Daoud Al-ghurairi, will take the necessary measures to prevent the circulation of these materials in cooperation with the security services and the Organized Crime Department at the Ministry of Commerce". 

He pointed out that  ”since today, the supervisory teams have started to follow up the materials prohibited from being imported and to check the shops and markets in order to prevent them and support the national product".    https://nnciraq.com/163145/

Expected Government Decisions To Support The Agricultural And Livestock Sector

Yesterday's economy, 19:34  Baghdad-WA - hendrin Makki  The Ministry of Agriculture confirmed on Wednesday the government's intention to support livestock and promote the agricultural sector, and while

it revealed a move to address and rehabilitate the irrigation system in Iraq,

it clarified its measures to support livestock.

Ministry spokesman Hamid al-Nayef told the Iraqi News Agency (WA) that

"the ministry has achieved accelerated achievements over the past few period, including increasing the agricultural plan and seed support by 70%".

Regarding the support of livestock, Al-Nayef stressed that "the ministry pays attention in the field of supporting livestock, as

it started receiving yellow corn for 500 thousand dinars per ton, and it will be sold to breeders for a subsidized amount, and

this will contribute to the revival of the animal revolution sector, which has suffered from the issue of feed for several years". 

He added that  "there is an effort to address the effects of the drought that negatively affected livestock by treating and rehabilitating the irrigation system in Iraq and returning water to its natural state by covering rivers with concrete to reduce water losses".

He pointed out that "the government is determined to support livestock and promote the agricultural sector, "pointing out that  "government decisions will be

supportive of the poultry sector,

protect the local product, and

set a customs tariff while

reducing smuggling.

Regarding the loss of animals in the marshes in southern Iraq, al-Nayef pointed out that

"the animal sector was exposed in the marsh areas to major problems and challenges that led to the death of many animals after the drought that hit many of them,"

explaining that  "the ministry is seeking to restore the livestock sector to its glory by supporting it with water and feed.     https://www.ina.iq/169994--.html

Economist: One Decision Of The Government Will Reduce Real Estate Prices

November 7, 20: 03  Information / private..Economist Nabil Al-Ali said on Monday that the frightening rise in real estate prices is related to the government's decisions on reducing the dollar exchange rate, especially that some real estate is being sold and bought in dollars.

"The new government's decisions on reducing the dollar exchange rate will be able to reduce real estate prices in Iraq, especially real estate that is sold and bought in dollars," Al-Ali said in an interview with Al-Malouma.

He added that "the funds offered by the Central Bank contributed to raising prices by a very large percentage, as the activation of economic projects stopped compared to the sale and purchase of real estate,"

pointing out that  "these funds worked to increase demand for real estate, which caused the continuous rise in their prices.

"The suspicious qualities and the massive thefts that took place in the government were converted into real estate by buying for twice the amount that the property is worth," he added.

The Economist Younis Al-Kaabi, said in an interview to / information/, that

"one of the doors of money laundering used by politicians is to buy real estate at higher prices than usual and in privileged places,"

stressing that  "there is no demand or movement on these properties except from certain people who are the reason for the rise in real estate prices in Iraq.

https://almaalomah.me/news/economy/اقتصادي:-قرار-واحد-من-الحكومة-سيخفض-أسعار-العقارات

To read more current and reliable Iraqi news please visit BondLady’s Corner:

 https://www.bondladyscorner.com/

Iraqi News Highlights Wednesday Evening 11-9-22

Iraqi News Highlights Wednesday Evening 11-9-22

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Resolves The Controversy Of Changing The Dollar Exchange Rate

Political | 05:52 - 09/11/2022   Special - Mawazine News   The Parliamentary Finance Committee decided, on Wednesday, the issue of changing the exchange rate of the dollar against the Iraqi dinar.

Committee member Jamal Cougar said in an interview with "Mawazine News", that "the House of Representatives, the Finance Committee and the government are not concerned with the issue of changing the dollar exchange rate, and that it is exclusively the prerogative of the Central Bank, and this matter was confirmed by the Prime Minister."

He added, "It is not the right of any deputy to intervene and make statements in this regard, and if they want to respect the terms of reference." https://www.mawazin.net/Details.aspx?jimare=210753

Dollar exchange rates recorded a rise in the Iraqi market

Economie| 10:07 - 09/11/2022   Baghdad - Mawazine News   The dollar exchange rates witnessed, today, Wednesday, an increase in the local stock market.    Selling price: 147.050 dinars per 100 dollars,  buying price: 146.950 dinars per 100 dollars     https://www.mawazin.net/Details.aspx?jimare=210699

Dollar Cash Sales Decreased In The Iraqi Currency Auction

Posted On2022-11-09 By Sotaliraq   09-11-2022 Cash   sales of the US dollar to banks and mediating companies decreased in the currency auction conducted by the Central Bank of Iraq, today, Wednesday, to reach 19 million dollars.

Our correspondent stated that the Central Bank sold today, during its auction to buy and sell US dollars, 120 million and 415 thousand US dollars, which were covered by the bank at a base exchange rate of 1460 dinars per dollar.

Our correspondent added that 81% of these sales went to enhance balances abroad in the form of remittances and credits, which amounted to 100 million and 965 thousand dollars, while the rest went in the form of cash sales amounting to 11 million and 450 thousand dollars.

Our correspondent indicated that 16 banks have responded to requests to enhance balances abroad, and 13 banks to meet cash requests, in addition to 47 mediation companies.   LINK

The Regional Government Outlines The Most Important Items To Be Negotiated In Baghdad

Wednesday 09 November 2022 17:29 | political Number of readings: 132   Baghdad / NINA / - The Kurdistan Regional Government announced the formation of a ministerial delegation to negotiate with the central government in Baghdad.

And the regional government stated in a statement, that it met today and decided to form a ministerial delegation consisting of the ministers of finance, planning and natural resources, to negotiate with Baghdad.

She explained: "The most important paragraphs of negotiation with the federal government will be the dialogue on constitutional rights, the ministerial curriculum for the current government that the Iraqi parliament voted on, Article 140, the region's share of the budget, the oil and gas file, the region's participation in federal institutions, and the file and rights of the Peshmerga." As well as draft laws (the Federal Court, the Federal Council, oil and gas)./ End

https://ninanews.com/Website/News/Details?key=1013045

Global Oil Prices Drop

Economie| 09:08 - 09/11/2022  Follow-up - Mawazine News:  Oil prices fell for the third day in a row, today, Wednesday, in light of the expectations of difficult Chinese demand and the rise in US inventories.

West Texas Intermediate crude fell 46 cents toward $88.45 a barrel, after falling by 4% over the past two days, and Brent crude fell 35 cents to $95.01.

The outbreak of the Corona virus in China shows the pressures on the economy as the zero-Covid policy continues, although harsh lockdowns and mass testing have failed to control it.

On the other hand, the American Petroleum Institute reported that oil inventories increased by 5.61 million barrels last week, according to people familiar with the numbers, which also showed a rise in gasoline stocks, while markets are awaiting official data from the Energy Information Administration later on Wednesday.

Crude oil rebounded in October after the Organization of the Petroleum Exporting Countries and its allies agreed to cut supplies, while tight EU restrictions on Russian oil flows next month amid the war in Ukraine could add upward pressure on prices.

Traders were also tracking the results of the midterm elections in the United States, where a change in the balance of power in the Senate and House of Representatives could derail President Joe Biden's legislative agenda and affect the US currency, with the potential for significant fluctuations in the prices of crude oil and other commodities.   https://www.mawazin.net/Details.aspx?jimare=210691

The Minister Of Commerce Launches A Plan To Monitor The Local Market And Warns Against Monopoly And Blackmailing Citizens

Economie| 01:21 - 08/11/2022   Baghdad - Mawazine News, Minister of Commerce Atheer Daoud Al-Ghurairy launched, on Tuesday, a plan to monitor the local market and materials prohibited from import, while warning against the existence and monopoly of these materials in order to put pressure on the citizens.

Al-Ghurairi said during his meeting with the ministry's supervisory body from the commercial and financial control departments and its branches in the governorates and companies, that "the plan will include Baghdad and the governorates to follow up and monitor the local market and prepare detailed reports to the competent authorities for the purpose of taking urgent measures to monitor what is happening in the market."

The Minister of Commerce stressed that "the next stage requires more monitoring, follow-up and scrutiny, and the Commercial Control Department has a pivotal and influential role to follow up on the local market," noting that "the department's work needs to change in methods and coordination with stakeholders to find a solution that prevents inflation or rise in prices and prevent monopoly." And working to support the Iraqi citizen through the imprint provided by these supervisory teams, died during their follow-up to the local market.

Al-Ghurairi stressed that "this stage is a stage of follow-up audit and control, whether it is in the local markets or even through the daily work that the ministry's companies play," noting that "the censor bears the historical responsibility to be a point of light in launching the work of this ministry in ranges." wider."

He noted that "the ministry will prepare weekly, monthly and quarterly reports to follow up prices and markets and prevent the monopoly process. The coming period will also witness the process of revitalizing the private sector through the ministry's efforts," explaining that "this will happen through two parts, the first is related to following up on local markets, preventing monopoly and raising a price on the shoulders of The citizen and the second by activating the private sector by giving it a natural role in exercising its role in trade.”

He pointed to "the importance of the role of the watchdog in following up and monitoring the market and preparing a database that includes food prices, causes, results and treatments, as well as the evaluation through continuous campaigns for the markets, which will cast a shadow over the services provided by the ministry to the citizen," stressing "the presence of the supervisory employee in positions of responsibility to audit all Work sites, diagnosing errors and addressing and identifying violations in order to correct the paths that occurred in previous times.

The Minister of Commerce went on to say, "We will follow up the work of oversight and support its orientations within the framework of auditing and new mechanisms. The next stage will define the features of work in the Ministry of Commerce, help raise the level of performance and broadcast a message of satisfaction that the citizen can feel in the services provided to him." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=210603

 To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

More From MilitiaMan "Calculations Done" 11-9-2022

KTFA:

Samson:  Economist : Reducing the dollar exchange rate is not / impossible / and the current time is suitable for monetary change

9th November, 2022

The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change.

Twig said in a statement to the National Iraqi News Agency : The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable.

Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.

He pointed out that "the current and next two years are the most appropriate time to bring about this monetary change."     LINK

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MilitiaMan:  I like this one… it fits with the Finance in Ministry and Central Banks motivation and what they have done already.  This man is suggesting the current time frame is not out of the question.

Central Banks job it to defend their currency in many different ways, whether is it to be in managed or direct manner, a floating manner or a fixed manner.

When there is a radical change there would likely be a fixed regime after an initial exchange rate change. imo Regardless of how they do it, they appear to have the calculations done and with the potentiality of being a radical change to improve the purchase power for the currency..

What is not to like about this experts view on things.. imo ~ MM

" 2023 will be prepared on the basis of the current “reasonable” exchange rate that resulted according to calculations between the Ministry of Finance and the Central Bank,"

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Kurdistan Region discusses a road map for the new relationship with the Sudanese government
9th November, 2022

The Kurdistan Regional Council of Ministers held its regular weekly meeting today, Wednesday, headed by Prime Minister Masrour Barzani, and discussed a number of topics on its agenda.

In the first paragraph of the meeting’s agenda, the Council of Ministers discussed its previous decision regarding the Kurdistan Regional Government’s road map regarding the new relationship between Erbil and Baghdad after the formation of the new federal government headed by Prime Minister Muhammad Shiaa al-Sudani, as well as shedding light on the mechanisms for solving outstanding problems between the Kurdistan Region. And the federal government on the basis of the constitution, in light of what was stipulated in the ministerial curriculum for the new ministerial formation that the Iraqi parliament voted on, especially Article 140 of the constitutional article on the Kurdish regions outside the administration of the Kurdistan Region, as well as the Kurdistan Region’s share of the federal general budget, the oil and gas file, and participation the real and due of the Kurdistan Region in the federal departments, in addition to the issue of the constitutional rights and entitlements of the Peshmerga, as well as other files such as draft laws (the Federal Court, the Federation Council, oil and gas).

After the Council of Ministers discussed this paragraph, it was decided that the negotiating delegation with the federal government would consist of the ministers of finance, proxy natural resources, and planning, the head of the Cabinet Office, the Secretary of the Council of Ministers, the head of the coordination and follow-up department, and the spokesman for the Kurdistan Regional Government. The delegation was also directed to start negotiations within the frameworks of constitutional rights and cabinet decisions regarding outstanding problems as soon as possible, and to emphasize the implementation of the ministerial curriculum of the federal government and the political agreement that was voted on in the Iraqi Council of Representatives.

In the second paragraph of the meeting's agenda, Minister of Finance and Economy Awat Sheikh Janab made a presentation on the steps for preparing a draft law on the quota of the Kurdistan Region, and on this basis the concerned authorities will be assigned to work on this issue.    LINK

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MilitiaMan:  Absolutely nothing wrong with sorting the oil and gas issues.. It is likely since it has been in the works for a very very long time, the time is now to dot some I’s and cross some T’s.. The looks of things there is symbiotic financial things in parallel too.. All converging at or around the same time.. imo -MM

Iraqi News Highlights Wednesday Afternoon 11-9-22

Iraqi News Highlights Wednesday Afternoon 11-9-22

Tlm724 Administrator Bondlady’s Corner

Economist To / Nina /: Reducing The Dollar Exchange Rate Is Not / Impossible / And The Current Time Is Suitable For Monetary Change

Wednesday 09 November 2022 10:15 | Economic Number of readings: 389

Baghdad / NINA / - The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change.

Twig said in a statement to the National Iraqi News Agency / NINA /: The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable,

Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.

He pointed out that "the current and next two years are the most appropriate time to bring about this monetary change." / End 8    https://ninanews.com/Website/News/Details?Key=1012931

Iraq Achieved A Financial Surplus Of More Than 38 Trillion Dinars In The Past Months

Money and business  Economy News-Baghdad

The Ministry of Finance issued the Iraqi state accounts for the month of last September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars, and a financial surplus amounted to more than 38 trillion dinars.

According to the data and tables issued by the ministry in the month of November for the accounts of last September, which showed that oil is still the main resource for Iraq’s general budget, reaching 96 percent, which is the same percentage for the past six months, which indicates that the rentier economy is the basis in Iraq’s general budget.

Through the financial tables, it appeared that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96 percent of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars. 4 percent of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars.   151 views   Added 11/09/2022 - 11:36 AM    Update 11/09/2022 - 6:21 PM

https://economy-news.net/content.php?id=30690

Banking Companies In Mosul Demand The Central Authorities To Lift The Ban On Their Dollar Transfer Transactions

Wednesday 09 November 2022 13:16 | Economic Number of readings: 230

Mosul / NINA / - The Association of Exchange Companies in Nineveh called for lifting the ban imposed on their dealings in converting the dollar currency, which prevented the Central Bank of Iraq from dealing in the dollar currency since the announcement of the liberation of Mosul.

"The Director of the Association of Exchange Companies Abdullah Khalil said in a statement to the National Iraqi News Agency/ Nina / The Central Bank did not allow all offices to trade in the dollar, stressing that “not dealing with foreign currency has a negative impact on the economy of the city of Mosul.”

He demanded, along with a number of exchange office owners, to allow the return of dealing with the dollar currency in Mosul, provided that security and intelligence monitoring is in place.

https://ninanews.com/Website/News/Details?key=1012988

Oil: We Are Working To Achieve The Highest Financial Revenues

Money and business   Economy News – Baghdad Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani affirmed, on Wednesday, work to achieve the highest financial revenues through the marketing and export of crude oil in support of the federal budget.

Abdul-Ghani said, while presiding over the monthly meeting of the pricing of Iraqi crude oil for global markets, according to a statement by the media office of the Ministry of Oil, that "Iraq is keen to deal realistically with the challenges facing the global oil market."

He added, "Iraq respects the (OPEC Plus) agreement in achieving balance and stability for the global market," noting that "Iraq's policy aims to raise the value or financial return of a barrel of oil in a manner that fulfills the wishes of producers and consumers."

He continued, "We are working to achieve the highest financial revenues through the marketing and export of crude oil in support of the federal budget," noting that "Iraq is a founding country of the organization and the second largest producer that works to bring the views of the members closer, in order to achieve the producers' goals in stabilizing the global market."

He pointed out that "the financial revenues of crude oil constitute 95 percent of the federal budget," noting that "the pricing meeting in the presence of the minister, agents and general managers of the departments and companies concerned confirms the ministry's approach to the importance of dialogue and deliberation about collective decision-making on issues and topics related to the economy and the lives of citizens."

The minister stressed the adoption of the most accurate standards of transparency in the marketing of Iraqi oil and the revenues generated and cooperation with Transparency International, explaining that "the determination of the marketing price of Iraqi oil is carried out on a monthly basis, after studying and reviewing reports, research and challenges surrounding global markets."

27 . views   Added 11/09/2022 - 4:50 PM   Update 11/09/2022 - 6:24 PM

https://economy-news.net/content.php?id=30697

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

KTFA Members "News and Views" Wednesday PM 11-9 2022

KTFA:

Samson:  Parliamentary Finance resolves the controversy of changing the dollar exchange rate

9th November, 2022

The Parliamentary Finance Committee decided, on Wednesday, the issue of changing the exchange rate of the dollar against the Iraqi dinar.

Committee member Jamal Cougar said in an interview with "Mawazine News", that "the House of Representatives, the Finance Committee and the government are not concerned with the issue of changing the dollar exchange rate, and that it is exclusively the prerogative of the Central Bank, and this matter was confirmed by the Prime Minister."

He added, "It is not the right of any deputy to intervene and make statements in this regard, and if they want to respect the terms of reference."    LINK

ATPinfinity:  it is exclusively the prerogative of the Central Bank MAYBE THIS IS CODE everyone IN THE WORLD OF DINAR IS WATCHING THE CBI NOW!imo…..(same day)The Central Bank: Our reserves have reached $90 billion and there is no change in the exchange rate in the 2023 budgetI thought the 2023budget was not complete, allegedly……How many more buy opportunities will the procrastinators get?

Samson:  Economist : Reducing the dollar exchange rate is not / impossible / and the current time is suitable for monetary change

9th November, 2022

The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change.

Twig said in a statement to the National Iraqi News Agency : The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable.

Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.

He pointed out that "the current and next two years are the most appropriate time to bring about this monetary change."   LINK

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Samson:  Source: France's Total wants to leave Iraq and sell its $27 billion stake

9th November, 2022

An informed source said, on Wednesday, that the French company Total wants to withdraw from Iraq

The source told "Economy News" that the French company Total Energy is negotiating to sell a share in the deal of its huge projects in Iraq, amounting to 27 billion dollars, in favor of Qatar Energy

He added, "The French giant is renewing its efforts to complete the deal with the formation of a new government in Iraq   LINK

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Samson:  Al-Sudani and Zidane discuss efforts to recover tax trust funds and arrest fugitive suspects

08/11/2022 22:19:43

 The President of the Supreme Judicial Council, Judge Faiq Zaidan, received Prime Minister Muhammad Shia Al-Sudani. The two sides discussed "the joint efforts between the judiciary and the government in following up the recovery of state funds in the case of tax trusts and the arrest of the fugitives."

Al-Sudani said in a press conference today: “There are 4 to 5 people who were arrested in connection with the issue of tax guarantees,” adding that “our information indicates that a large part of the total amount stolen was smuggled out of Iraq.”

It is noteworthy that the previous government headed by Mustafa Al-Kazemi had begun an investigation into the disappearance of $2.5 billion from the account of the General Authority for Taxes (Amanat).

A document of the commission revealed that the amount was withdrawn between January and August of this year, and the amount was transferred to the accounts of five different companies using dozens of checks, then it was withdrawn from the accounts immediately.

A security force arrested Nour Zuhair, the main suspect in the theft of tax funds, while the Central Bank of Iraq froze the movable and immovable funds of five companies, including those belonging to the accused, Zuhair.   LINK

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Samson:  Integrity reveals and seizes embezzlement and violations of more than 4 billion dinars in two governorates

9th November, 2022

The Investigation Department of the Integrity Commission announced, on Wednesday, that its staff had carried out seizures of cases of embezzlement, violations and extortion in the governorates of Muthanna and Maysan.

The department, speaking about the operations that were carried out according to judicial notes, pointed out in a statement received to Shafaq News Agency, that "the Maysan Investigation Office team revealed that the director of the Personnel Accounts Department and the former official of the Payments Division in the Maysan Oil Company embezzled an amount of nearly one billion dinars.

The statement indicated that the accused organized a "fake" rewards exchange document for the company's employees in the amount of (1,900,000,000) billion dinars, warning that he embezzled half of the amount by issuing a forged document to settle the payment of the reward amount.

In Muthanna, the department confirmed that "the staff of the Commission's Investigation Office in the governorate was able to monitor a real estate worth (3,300,000,000) billion dinars, owned by the Ministry of Finance. Editing a photo of the property as owned by the Ministry of Sports and Youth, contrary to reality; Accordingly, he was given an investment opportunity for housing.

The Maysan Investigation Office team was also able to arrest an employee in the municipality of Al-Amarah after he had blackmailed one of the audits; to pay a sum of money (a bribe)."

The statement stated that "the accused also bargained with her in exchange for her sick daughter, who is included in the handicapped segment, to obtain a residential plot of land."  LINK

Samson: : 10 years in prison for the former governor of Salah al-Din Ammar al-Jabr

9th November, 2022

Today, Wednesday, the Iraqi judiciary issued a 10-year prison sentence in absentia against former Salah al-Din Governor Ammar al-Jabr.

A judicial source told Shafaq News Agency that the former governor of Salah al-Din Ammar al-Jabr was sentenced in absentia to 10 years in prison for his involvement in corruption and waste of public money. 

On May 19, 2022, a parliamentary source revealed the dismissal of Salah al-Din Governor Ammar Jabour al-Jubouri from his position by order of the Presidency of the Council of Ministers to the House of Representatives, after the recommendation of the investigative committees in the Council of Ministers, "which diagnosed the mismanagement of the governorate and the existence of a waste of public money."

On the same day, the Iraqi Council of Representatives voted to dismiss Al-Jabr by an absolute majority.

On August 21, 2022, Al-Jabr vowed, on Sunday, to reveal files of financial corruption affecting “all politicians” without exception, and demanded international protection for him and his family, while former MP Mishaan al-Jubouri hinted, on the same day, that he would also reveal corruption files. LINK

Ewtohan:  This guy gets  10 in jail for waste of public money.  Lol    How much money did Maliki waste  ..? I mean steal and how many people  did he have killed…why don’t they put his butt in jail  to rot or give him a death sentence. .. I guess they don’t do nothing with him because people are afraid of him for what he knows .. well it’s funny because United States put him in office  imo

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Samson:  Abu Dhabi Ports signs an agreement with the Iraqi Bank (IDB) with the aim of improving trade movement between the two countries

9th November, 2022

Abu Dhabi Ports Group signed a preliminary agreement with the International Development Bank in Iraq ("IDB") to explore cooperation opportunities available in port projects and logistics services with the aim of improving trade movement between the United Arab Emirates and Iraq.

The agreement was signed by: Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group; and Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, according to a statement issued by the group today, Wednesday.

Al Shamsi said: "We have before us a broad horizon of opportunities and a great scope for improving and modernizing ports, logistics services and economic zones in Iraq. There is no doubt that through our cooperation with the International Development Bank, we will explore many available projects that certainly contribute to enhancing trade movement between the United Arab Emirates and Iraq." 

For his part, Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, said: "Strengthening the ties between our two brotherly countries contributes to supporting the national economy and improving intra-trade. Therefore, we are pleased to conclude this agreement with the Abu Dhabi Ports Group, a world leader in the fields of trade, logistics and transport."

"The ports and logistics sectors play a vital role in providing supplies to the Iraqi community across the country, and we are confident in our ability to collaborate on projects with tangible and sustainable impact in this context," he added.

Khalaf added, "Our goal is to strengthen and deepen the bonds of economic and trade cooperation between the United Arab Emirates and the State of Iraq, in order to achieve economic twinning between the two brotherly countries through the support of businessmen and Emirati and Iraqi companies."

It is noteworthy that the United Arab Emirates and Iraq continued to strengthen their trade relations during 2022 through several trade and development agreements.

The World Bank estimates that the Iraqi economy will record an estimated growth rate of 6.3% over the next two years.   LINK

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Samson:  The Central Bank: Our reserves have reached $90 billion and there is no change in the exchange rate in the 2023 budget

9th November, 2022

Global oil prices have boosted the dollar’s ​​cash reserve in Iraq, especially after the “black gold” price rose and reached the $100 per barrel barrier, while specialists stress the need to exploit this financial abundance in establishing strategic projects capable of supporting the country’s financial budgets and reducing the size of the "almost total" dependence on oil imports, as well as directing part of those towards supporting industrial and agricultural private sector projects

Al-Yasiri’s affirmations came during the economic symposium organized by the House of Wisdom and bearing the slogan (The Iraqi Dinar: Changing the Exchange Rate) and raised zeros) and moderated by the economist, Dr. Falah Hassan Thuwaini, and attended by a number of experts and specialists in economic affairs

Al-Yasiri told "Al-Sabah" on the sidelines of the symposium, "The cash reserves of the Central Bank are sufficient to finance import operations for a period of 22 months, and this is positive for Iraq and makes it live a period of relief, as these reserves amounted to $90.89 billion, which is the first time that the reserves of the Central Bank have been reported. Absolutely, and the economy's health indicates that it is a major bond and wall of the national currency, and it is expected that these reserves will exceed the $90 billion barrier at the end of this year

Al-Yasiri pointed out that the volume of the Iraqi currency issued for circulation is estimated at 83 trillion dinars, equivalent to 58 billion dollars, while the banknotes of the public and banks are estimated at up to six billion banknotes in circulation

 Regarding the devaluation of the currency, Al-Yasiri stressed that this decision left a new threshold for the Iraqi industrialist and made it more competitive. After devaluing the currency by 23 percent, this matter limited the volume of imports of goods and many industrialists have a desire to expand their factories or establish new ones

And the Central Bank adviser pointed out that “the process of adjusting the exchange rate has important scopes, which were represented in achieving a financial goal” of “revenues for public finance” and a development goal “enhancing the competitiveness of the real sector against the import sector,” stressing that there is no intention at the present time to change the exchange rate that he described.

With the “stability function”, as it is not possible to manipulate stability, and that the budget for next year 2023 will be prepared on the basis of the current “reasonable” exchange rate that resulted according to calculations between the Ministry of Finance and the Central Bank, as well as the contribution of some international consultations in this decision, which kept the public finances solid after that At the end of the year 2020, the Iraqi state approached bankruptcy

In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that "work to improve the price of the dinar should be carried out in accordance with the principle of "common benefit to the community" so that it does not leave harm, as this requires a gradual silent policy and high coordination between the monetary and financial policies, especially since the next phase should be a phase of calm, as the current government is rationally moving towards revitalizing development and achieving economic stability  LINK

108419:  There it is from the central bank no change in the budget,,,,, hype

PattyCakes7:  China said the same thing right before they did it. God please let this be it.

MilitiaMan Wednesday Afternoon "The Silent Policy" 11-9-2022

KTFA:

Samson:  The Central Bank: Our reserves have reached $90 billion and there is no change in the exchange rate in the 2023 budget

9th November, 2022

Global oil prices have boosted the dollar’s ​​cash reserve in Iraq, especially after the “black gold” price rose and reached the $100 per barrel barrier, while specialists stress the need to exploit this financial abundance in establishing strategic projects capable of supporting the country’s financial budgets and reducing the size of the "almost total" dependence on oil imports, as well as directing part of those towards supporting industrial and agricultural private sector projects

Al-Yasiri’s affirmations came during the economic symposium organized by the House of Wisdom and bearing the slogan (The Iraqi Dinar: Changing the Exchange Rate) and raised zeros) and moderated by the economist, Dr. Falah Hassan Thuwaini, and attended by a number of experts and specialists in economic affairs

Al-Yasiri told "Al-Sabah" on the sidelines of the symposium, "The cash reserves of the Central Bank are sufficient to finance import operations for a period of 22 months, and this is positive for Iraq and makes it live a period of relief, as these reserves amounted to $90.89 billion, which is the first time that the reserves of the Central Bank have been reported. Absolutely, and the economy's health indicates that it is a major bond and wall of the national currency, and it is expected that these reserves will exceed the $90 billion barrier at the end of this year

Al-Yasiri pointed out that the volume of the Iraqi currency issued for circulation is estimated at 83 trillion dinars, equivalent to 58 billion dollars, while the banknotes of the public and banks are estimated at up to six billion  banknotes in circulation

 Regarding the devaluation of the currency, Al-Yasiri stressed that this decision left a new threshold for the Iraqi industrialist and made it more competitive. After devaluing the currency by 23 percent, this matter limited the volume of imports of goods and many industrialists have a desire to expand their factories or establish new ones

And the Central Bank adviser pointed out that “the process of adjusting the exchange rate has important scopes, which were represented in achieving a financial goal” of “revenues for public finance” and a development goal “enhancing the competitiveness of the real sector against the import sector,” stressing that there is no intention at the present time to change the exchange rate that he described.

With the “stability function”, as it is not possible to manipulate stability, and that the budget for next year 2023 will be prepared on the basis of the current “reasonable” exchange rate that resulted according to calculations between the Ministry of Finance and the Central Bank, as well as the contribution of some international consultations in this decision, which kept the public finances solid after that At the end of the year 2020, the Iraqi state approached bankruptcy

In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that "work to improve the price of the dinar should be carried out in accordance with the principle of "common benefit to the community" so that it does not leave harm, as this requires a gradual silent policy and high coordination between the monetary and financial policies, especially since the next phase should be a phase of calm, as the current government is rationally moving towards revitalizing development and achieving economic stability  LINK

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Abdul Hussein Al-Yasiri: Iraq will see significant economic growth after Baghdad summit

A member of the Finance Committee MP and National Alliance, Abdul-Hussein Al-Yasiri, favored that the Iraqi economy will witness development in all sectors after the return of Iraqi - Arab relations and the Arab summit conference in Baghdad, which will contribute to the coming of the great Arab companies to invest in the country. lINK

https://www.rs.iq/iraq_news/view/2643

MilitiaMan:  We can see that Al-Yasiri has supported the private sector in recent times. It shows he supports a private sector economy imo. What I see in the article above is there are some positive signs for what to expect in the future and what has likely been done already.

We can clearly see that they have enough reserves to last 22 months. The world average is 11 months per the World Bank statistics chart. That level of reserves is very good for the financial circumstances they are about to embark on or have already.

They will need stability and appear to have that largely covered. They do tell us their money supply and are being open about that. The average value of a note issued (six billion of them) is roughly 13,833 per note. 

The issue of the devaluation was for useful purposes for the future private sector they plan on moving to. It was with and effectively 23% hit to the citizens pocket book, ouch. They had to take on the chin for longer than expected too.

That appears now to about to change for them to the bright side. The private sector will bring jobs, revenues, etc., and on many fronts. 

The Central Bank speaks of adjusting the reasonable exchange rate as having important scopes which are represented in achieving a financial goals with respect to revenues for public use.

It is for the development and competitiveness of the real (private) sector against the import sector. It was prepared (done) with stability in mind.

The 2023 budget exchange rate on the basis of a reasonable exchange rate was a result from and according to calculations between the Ministry of Finance and the Central Bank. They have had the collaborations already and with contributions of some international consultations in the decision to it. They have the calculations done imo..

They go on to say there is work to improve the price of the dinar (likely have improved it and are about ready to show it). The work should be for a common benefit to the Iraq community, so has to not cause harm.

They did harm on the devaluation and now is the time to reverse that.

They suggest that imo they had to be quiet (silent)  and gradual about the work. They call it a silent policy.

One that is in high coordination between the monetary and financial policies of the country. The even tell us why too. They needed it especially for the next phase. The next or last phase requires calm.. Therefore, for after all the work to date they have done the current government is rationally moving to revitalizing and achieving reforms with stability.  The central bank will defend their work in the market place, twice daily if need be. ioo

It looks as though they are still updating everyone on what they are and have been doing with their financial operations, while suggesting the next phase of them is effectively to be upon us now or at least very shortly.. I like what I see.. imo ~ MM

https://data.worldbank.org/indicator/FI.RES.TOTL.MO

Wednesday AM Iraq Economic News Highlights 11-9-22

Wednesday AM Iraq Economic News Highlights 11-9-22

Parliamentary Finance Talks About The Amount Of The Budget And The Price Of A Barrel Of Oil In It

1,304   Today, Tuesday, a member of the Parliamentary Finance Committee, Jamal Cougar, expected that the amount of the general budget would be between 120 to 130 billion dollars, adding that the price of a barrel of oil would be 75 dollars.

Joker said in a press interview seen by "Progress", that "the amount of the general budget is expected to be from 120 to 130 billion dollars," stressing that "Iraq's resources range between 150 and 170 trillion Iraqi dinars."

He continued, "It is expected, according to the numbers and statistics of the new government and the Ministry of Finance, that the price of a barrel of oil will be $75."

He added, "We hope that the government and concerned authorities will complete the paragraphs of the general budget this month in order to vote on them in the parliament."

https://takadum-news.com/archives/130161

Al-Sudani And Zidane Are Discussing The Recovery Of The Money From The Tax Deposits

November 8, 2022  Baghdad / Obelisk: The Prime Minister, Muhammad Shia Al-Sudani, discussed with the President of the Supreme Judicial Council, Judge Faiq Zaidan, on Tuesday 11/08/2022, joint efforts in following up the recovery of state funds in the case of tax trusts.

A statement of the Supreme Judicial Council received by Al-Masala stated that the President of the Supreme Judicial Council, Judge Faiq Zeidan, received Prime Minister Muhammad Shiaa Al-Sudani and discussed with him the joint efforts between the judiciary and the government in following up the recovery of state funds in the case of tax trusts and the arrest of the fugitives.

https://almasalah.com/archives/27466

Al-Sudani Reveals That A Large Proportion Of The “Stealing Of The Century” Money Has Gone Out Of Iraq

Shafaq News/ The Iraqi Prime Minister, Muhammad Al-Sudani, revealed on Tuesday that a large proportion of the money that was embezzled in the case of tax trusts and what has become called "theft of the century" went out of the country, calling on countries to cooperate to recover them.

Al-Sudani said in a press conference held today, after the end of the cabinet session, which was attended by Shafak News Agency, that "Iraq is a member of the United Nations Convention against Corruption," stressing that "countries must abide by the agreement and cooperation with Iraq."

And Al-Sudani said, "Initial information indicates that a large proportion of the theft of 3 trillion was sent outside Iraq," calling on countries to "cooperate with Iraq and return the money."

Earlier, Al-Sudani decided to transfer the Director General of Investigations in the Integrity Commission out of it due to the failure to perform his duties, and to refer the investigation report in this case to the competent courts.

And the regulatory authorities had previously revealed the embezzlement of tax trust funds in the amount of 3.7 trillion Iraqi dinars, which has become known as “the theft of the century”, and the Iraqi judiciary issued arrest warrants against a number of accused of “the theft of the century” and confiscation of movable and immovable funds and the seizure of real estate belonging to them and their families. .   LINK

With Revenues Of $161 Million Since The Beginning Of The Year... "Dana Gas" Announces An Increase In Its Production In Kurdistan

Shafaq News/ The Emirati company, Dana Gas, which operates in the Kurdistan Region, announced today, Wednesday, that it recorded revenues of 161 million dollars in the first nine months of 2022, while gas production in the region increased to 500 million cubic feet per day.

The company said in a report, seen by Shafak News Agency, that the revenues of Dana Gas for the first nine months of this year amounted to 161 million dollars, an increase of 24% over the same period last year, and the total revenues before interest, taxes and other expenses amounted to 240 million dollars.

The report added that the company has increased gas production in the Kurdistan Region by 11%, so that it is currently producing 500 million cubic feet of gas per day from the Kormore field.

Dr. Patrick Ward, CEO of Dana Gas, said that the company has played an active role in the energy sector in the Middle East, especially in increasing gas production in the Kurdistan Region despite the challenges it has faced.

He added that despite many local and global economic challenges, the company was able to increase its revenues and partners' revenues by reducing costs and increasing production levels, in this field, and the rise in oil and gas prices was a major contributor to further growth.   LINK

The Latest Survey: OPEC Boosted Its Production, Led By Three Countries, Including Iraq

Shafaq News/ Last October, OPEC and its allies led by Russia raised crude oil production by 220,000 barrels per day, led by 3 countries, including Iraq.

According to a survey by S&P Global Commodity Insights, the 13-member Organization of the Petroleum Exporting Countries and its allies led by Russia, which pledged to cut production by 100,000 barrels per day last October, instead raised production by 220,000 barrels. On the day many members got back some barrels they had lost due to outages and maintenance.

According to the survey, "sharp gains in production came from Iraq, Kazakhstan and Russia in exchange for losses in Saudi Arabia and Angola, where the coalition of 22 countries witnessed a rise in production to 43.23 million barrels per day, the highest level in two and a half years, indicating that" only five countries Of the 22 countries participating in the alliance, they already reduced production last month.

The 13-nation Organization of the Petroleum Exporting Countries produced 29.72 million bpd, down 30,000 bpd from September, while Russia and eight other allies pumped 13.51 million bpd, up 250,000 bpd.

On October 5, OPEC+ agreed to cut production quotas by 2 million barrels per day from November, saying it was a "technical decision" aimed at avoiding the impact of a potential global recession, even as the European Union prepared to start a ban on crude imports. Russian on the fifth of December.

But the move angered the US administration, accusing the alliance of endangering the global economy and helping fund the Russian war in Ukraine.

According to the survey, Iraq managed to increase 80,000 barrels per day to reach 4.58 million barrels per day, as exports rose to their highest levels in several years, indicating that Iraq's exports of crude oil are dangerously close to their full capacity in its southern ports, with limited space. In storage facilities, which limits further production.

Non-OPEC Kazakhstan posted the biggest increase in the month, as production rebounded by 180,000 bpd to 1.40 million bpd.

Russian crude production recovered to a seven-month high last month, pumping 9.85 million barrels per day in October, an increase of 80,000 barrels per day, supported by higher crude exports and refining operations.    LINK

By More Than Half, Iraq's Oil Exports To Independent Chinese Refineries Declined

Shafaq News/ The Chinese Customs Administration announced on Wednesday that Iraq's oil exports to 32 independent Chinese refineries have fallen by more than half during the month of October 2022.

And the administration showed in its statistics, seen by Shafak News Agency, that "Iraq's oil exports to independent Chinese refineries decreased in October by 50.6% to reach 685 million metric tons, or the equivalent (5 million barrels), compared to September 2022, which amounted to 1.388 thousand metric tons. or the equivalent of (10.132 million barrels), but it rose by 28.8% compared to the same month of last year 2021, in which oil exports to China amounted to 532,000 tons, or the equivalent of (3.883 million barrels).

And she added, "Iraq's exports to independent Chinese refineries during 10 months, starting from January to the end of October 2022, amounted to 9.233 thousand metric tons, or the equivalent of (67.400 million barrels), an increase from the same period in 2021, in which exports to independent Chinese refineries amounted to 7.158 thousand. metric tons, or the equivalent (8.453 million barrels).

She pointed out that "Iraq ranked seventh among the ten major oil-exporting countries to independent Chinese refineries, after it was ranked fifth in the month of September," noting that "Iraq came after Malaysia, Russia, Saudi Arabia, UAE, Oman and Kuwait."

Despite the decline in imports of crude oil by Chinese oil companies for the month of October, Chinese oil sources indicated that inflows from the UAE, Saudi Arabia, Iraq, Oman and Kuwait are likely to increase further in the coming months as Sheng Hong Company looks forward to start its operations. LINK

Expert: Kurdistan Will Keep Its Oil And Will Get 200 Billion Dinars Per Month In The 2023 Budget

Money and business  Economy News / Baghdad  Economist Nabil Al-Marsoumi revealed, on Tuesday, that Kurdistan has guaranteed its share in the 2023 budget.

Al-Marsoumi said in a Facebook post that "the information received from Kurdish sources indicates that the region's share in the 2023 budget will be the same as its share in the 2021 budget, meaning that it will receive 200 billion dinars per month while its oil remains for it."

He pointed out that "the disbursement will start from the current month of November, according to the sources, who also say that this is part of the political spending under which the government was formed."

Al-Marsoumi warned that "it is not possible to verify the accuracy of this information until the completion of the draft budget law 2023."   Views 182  Added 11/08/2022 - 4:47 PM Update  11/09/2022 - 1:02 PM       https://economy-news.net/content.php?id=30675

Oil: Explorations Will Take Place In Joint Fields With 4 Neighboring Countries

Energy   Economy News / Baghdad   Today, Tuesday, the Ministry of Oil revealed a strategic project that contributes to increasing oil and gas reserves, while it announced a five-year plan that includes dozens of projects.

The director of the Oil Exploration Company, Ali Jassim Hammoud, told the Iraqi News Agency that "the company has a strategic project, which is exploratory drilling, which will contribute to increasing oil reserves, compensating the depleted and confirming the presence of hydrocarbons in various oil fields."

Hammoud added that "exploratory drilling operations will contribute significantly to increasing oil reserves, whether in the field of oil or gas, and will include various border fields with Iran, Kuwait, Syria and Saudi Arabia."

He pointed out that "the exploratory drilling project collides with sufficient financial allocations for its implementation, especially in the joint border fields," noting that "the annual allocations and budgets allocated to the company do not differ from those of the extractive companies that constitute an obstacle to the implementation of their projects."

Regarding future projects, Hammoud pointed out that "there is a project under discussion with the French company Total to develop the Artawi field, and it is in the process of preliminary discussions, in addition to the existence of cooperation with the Chinese company Cinonic after signing an agreement with it during the last period, to conduct surveys from the onshore part in area of ​​the Arabian Gulf.

He continued, "We are serious about implementing these agreements with the Basra Oil Company and the relevant departments represented by the Regional Center and Environment in Basra Governorate."

He explained, "The company has annual plans according to programs carried out with the approval of extractive companies, as it has a five-year plan that includes dozens of projects, but the implementation depends on financial allocations, in addition to exploratory drilling, which is the mainstay for increasing oil reserves and confirming the presence of hydrocarbons in various oil fields." .

views 385   Added 11/08/2022 - 5:50 PM Update 11/09/2022 - 12:49 PM

https://economy-news.net/content.php?id=30677

Oil Announces The Continuation Of The Project To Adopt Gas As A Fuel For Vehicles

Energy   Economy News-Baghdad   The Undersecretary of the Ministry of Oil, Hamid Younis, confirmed, on Wednesday, the progress in implementing the steps of the national project to convert the use of liquid gas fuel for vehicles instead of gasoline and kerosene fuel, indicating that the ministry is keen to increase the number of “workshops” in Baghdad and the governorates and to involve the private sector in establishing “workshops” according to Quality and safety standards.

Younis said in a statement that "the ministry is moving forward with implementing the steps of the national project to expand the area of ​​using liquid gas fuel for vehicles instead of gasoline and kerosene fuel, by increasing the number of specialized workshops in Baghdad and the provinces, and working on involving the private sector in establishing specialized "workshops" to install the liquid gas system. vehicles according to quality and safety standards.

He added, during a field tour of the new workshop site, that "the adoption of the mechanism for preparing liquid gas fuel for citizens' vehicles by the ministry is an important step that brings economic and environmental benefits to the citizen," explaining that "the economic feasibility comes through the price of gas processing for vehicles compared to the prices of processing gasoline fuel,

which reduces As for the technical benefit, the octane number of gas fuel is higher than the octane number of improved gasoline, thus it does not affect the engines of vehicles, extend their life and reduce engine holidays. With regard to the environmental benefit, the use of gas as a fuel for cars reduces emissions and environmental pollution caused by gasoline combustion in Motors"

For his part, the Director General of the Gas Filling and Services Company, Anmar Ali Hussein, said, "The ministry is working on expanding this great national project by increasing the number of workshops to install the gas system in order to accommodate the large numbers of vehicles whose owners want to install the system, after it was widely accepted by the public. before the citizens.

He pointed out that "the ministry is studying the possibility of involving the private sector in establishing specialized workshops with advanced technical specifications, under the supervision of the ministry and the company, and under strict conditions aimed at ensuring safe operation and the safety of users."

 106 . views   Added 11/09/2022 - 9:46 AM   Update 11/09/2022 - 1:51 PM

https://economy-news.net/content.php?id=30686

"Tidbits From TNT" Wednesday AM 11-9-2022

TNT:

Tishwash:  Source: France's Total wants to leave Iraq and sell its $27 billion stake

An informed source said, on Wednesday, that the French company Total wants to withdraw from Iraq.

The source told "Economy News" that the French company Total Energy is negotiating to sell a share in the deal of its huge projects in Iraq, amounting to 27 billion dollars, in favor of Qatar Energy.

He added, "The French giant is renewing its efforts to complete the deal with the formation of a new government in Iraq     link

Tishwash:  The assassination of a prominent leader in the Sadrist movement

Unidentified gunmen assassinated, today, Wednesday, the prominent leader of the "Peace Brigades", Salah Berish al-Shiblawi, the commander of the military wing of the Sadrist movement, led by Muqtada al-Sadr.

Security sources said that "unidentified gunmen in a car without traffic plates opened fire on the prominent leader of Saraya al-Salam (the Sadrist movement), Salah Barish al-Shiblawi, in the Jihad neighborhood, west of the Iraqi capital, Baghdad."

The sources indicated that "the gunmen fled to an unknown destination after the assassination of Al-Shiblawi, while the security forces imposed strict security measures at the exits of the Jihad neighborhood to prevent the militants from fleeing outside the area after carrying out the assassination."

The area witnessed a proliferation of Saraya al-Salam militants, after the assassination of a prominent Saraya leader in Baghdad, which is said to have come against the backdrop of a clan vendetta, and no official confirmation has yet been issued about the circumstances of the incident.  link

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CandyKisses:  Iraq achieved a financial surplus of more than 38 trillion dinars in the past months

The Ministry of Finance issued the Iraqi state accounts for the month of last September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars, and a financial surplus amounted to more than 38 trillion dinars

According to the data and tables issued by the ministry in the month of November for the accounts of last September, which showed that oil is still the main resource for Iraq’s general budget, reaching 96 percent, which is the same percentage for the past six months, which indicates that the rentier economy is the basis in Iraq’s general budget

Through the financial tables, it appeared that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96 percent of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars. 4 percent of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars

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CandyKisses:  For the third day in a row, oil prices fell

Oil prices fell for the third day in a row, today, Wednesday, in light of the difficult expectations of Chinese demand and the rise in US stocks.

West Texas Intermediate crude fell 46 cents toward $88.45 a barrel, after falling by 4% over the past two days, and Brent crude fell 35 cents to $95.01. 

The outbreak of the Corona virus in China shows the pressures on the economy as the zero-Covid policy continues, although harsh lockdowns and mass testing have failed to control it.

On the other hand, the American Petroleum Institute reported that oil inventories increased by 5.61 million barrels last week, according to people familiar with the numbers, which also showed a rise in gasoline stocks, while markets awaited official data from the Energy Information Administration later on Wednesday.

Crude oil rebounded in October after the Organization of the Petroleum Exporting Countries and its allies agreed to cut supplies, while tight EU restrictions on Russian oil flows next month amid the war in Ukraine could add upward pressure on prices.

Traders were also tracking the results of the US midterm elections, where a change in the balance of power in the Senate and House of Representatives could derail President Joe Biden's legislative agenda and affect the US currency, with the potential for large swings in the prices of crude oil and other commodities.

Mot: and Yet Another ""Raising the Wee Folks"" Tip - from Mot of Course! ~

Mot:  .... aaaaahhhhhh the joys of raising the ""Wee Folks"" ~~

Tuesday Evening Iraq Parliament News Highlights 11-8-22

Tuesday Evening Iraq Parliament News Highlights 11-8-22

A Political Bloc Links The Dollar Exchange Rate To The Popularity Of The Sudanese Government

Political | 01:37 - 08/11/2022   Baghdad - Mawazine News, a deputy from the Sadiqoun bloc, Zainab Juma al-Moussawi, confirmed today, Tuesday, that changing the Iraqi dinar exchange rate helps the poor segment and increases the popularity of the Sudanese government.

Al-Moussawi said in a statement followed by "Mawazine News", "The restoration of the old exchange rate means a reduction in the value of prices in the Iraqi market and indirectly helps the poor citizen to face the high prices."

The statement added, "Changing the exchange rate means increasing the popularity of the current government because it took an approach contrary to the previous government, which narrowed the Iraqi citizen." Ended 29 / M 99    https://www.mawazin.net/Details.aspx?jimare=210607

The Prime Minister Directs The Formation Of An Investigative Committee Into The Killing Of An American Citizen In Baghdad

Iraq   00:33 - 11-08-2022     The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shiaa Al-Sudani, directed the formation of an investigative committee into the killing of an American citizen in Baghdad.

The Security Media Cell stated in a statement, "The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shiaa Al-Sudani, directed the Minister of Interior, Abdul Amir Al-Shammari, to form an investigative committee from the specialized agencies of the ministry and other security agencies to investigate the circumstances of the killing of an American citizen in the capital, Baghdad."

He added, "The committee was formed immediately after the accident to find out its details and causes, and to reach the perpetrators as soon as possible."      https://kirkuktv.net/AR/Details/10455

Parliament Bell Rings To Mark The Start Of The 5-Paragraph Session

Policy   2022-11-08 | 04:05   2,703 views   Alsumaria News – Politics The House of Representatives bell rang today, Tuesday, marking the start of today's session, which included five paragraphs.

Alsumaria correspondent inside the House of Representatives said, "The parliament bell is now ringing to invite the deputies to enter the parliament hall, in order to hold the session that was supposed to start at twelve o'clock in the afternoon."

The agenda of today's session includes five paragraphs, most notably the vote on the decision to extend and exempt foodstuffs from tax and customs.   LINK

From The Higher Institute.. The Minister Of Interior Issues A Set Of Recommendations - Urgent

Security   2022-11-08 | 03:39   Source:   Alsumaria news   5,406 views  Alsumaria News - Security The Minister of Interior, Abdul Amir Al-Shammari, issued today, Tuesday, a set of recommendations regarding the Higher Institute for Security and Administrative Development.

The ministry said in a statement received by Alsumaria News, "The Minister of Interior, Abdul Amir Al-Shammari, visited the Higher Institute for Security and Administrative Development, and chaired the periodic meeting of the Higher Institute's board of directors, in the presence of the Dean of the Institute and a number of leaders and officers."

According to the statement, the minister stressed the need to develop strategic plans for the next stage, stressing that “training is the main component of the institute’s work, as well as paying attention to etiquette and appearing in a decent appearance, praising the great efforts made by the officers of the Higher Institute.”

Al-Shammari conducted an inspection tour in a number of departments and people of the institute and was briefed on the most important duties and tasks they perform, according to the statement.

The minister also listened to a brief explanation of the nature of the training courses and lessons that students receive by specialists in various security, police and administrative sciences, according to the statement.   LINK

The President Of The Republic Receives The British Minister Of State For Foreign And Commonwealth Affairs

Iraq   13:15 - 11-08-2022   The President of the Republic, Dr. Abdul Latif Jamal Rashid, received today, Tuesday, November 8, 2022, at his residence in Sharm El-Sheikh, the British Minister of State for Foreign Affairs, Commonwealth Affairs and Development James Cleverly.

During the meeting, which was held on the sidelines of the UN Climate Summit COP 27, they discussed friendship and cooperation relations between Iraq and the United Kingdom, and ways to enhance them.

The President of the Republic talked about the economic impact of Iraq and its people in the past period, especially during the war against the criminal organization ISIS, but the insistence of the Iraqis to go on the path of peace and prosperity, made the country maintain its high position in the region, noting that Iraq currently possesses a strong economic situation that enables it to achieve Projects that serve his children.

They also discussed environmental problems and climate change in the region and the world, and their negative effects in increasing desertification and water scarcity, which affect the lives and livelihoods of citizens and produce health and economic damage.

The President of the Republic, Dr. Abdullatif Rashid, indicated that the phenomenon of climate change affects all of humanity, but Iraq is one of the countries affected greatly by it, stressing the need to take the necessary measures to reduce it, and the importance of international cooperation and providing the necessary support to overcome these risks through serious joint work and exchange of experiences.

For his part, Minister Cleverly praised Iraq and its people, pointing to the importance of the close relations between the two countries and the need to expand horizons of cooperation in various fields, including those related to confronting the phenomenon of climate change and protecting the environment because of the damage this phenomenon affects all peoples of the world, pointing to the importance of strengthening international efforts and activating Ambitious plans through a joint international effort to confront this phenomenon.    https://kirkuktv.net/AR/Details/10466

Al-Sudani Discusses With The Ambassadors Of Italy And Australia Ways To Enhance Bilateral Relations

Iraq   10:23 - 11-08-2022   Today, Tuesday, Prime Minister Muhammad Shia Al-Sudani discussed with the ambassadors of Italy and Australia support for the ministerial curriculum.

A statement by the Prime Minister's Media Office stated that "Al-Sudani received the Australian Ambassador to Iraq, Paula Ganley, and the Italian Ambassador, Maurizio Cricante, separately,"

noting that "the two meetings discussed ways to strengthen bilateral relations and consolidate the constructive partnership between Iraq and the two friendly countries, Italy and Australia, In a way that benefits the interests of the Iraqi people and the Italian and Australian peoples."

The statement added that "during the two meetings, they discussed joint action paths with Iraq, in order to confront economic challenges and the effects of climate change, as well as the two countries' continued support for the Sudanese curriculum and its government program in all fields."

https://kirkuktv.net/AR/Details/10460   

The President Of The Republic Participates In The Summit Of The Green Middle East Initiative

Iraq   00:21 - 11-08-2022   Today, Monday, November 7, 2022, the President of the Republic, Dr. Abdel Latif Gamal Rashid, participated in the second edition of the Green Middle East Initiative Summit 2022, which will be held in Sharm El-Sheikh, Arab Republic of Egypt, on the sidelines of the COP 27 Climate

Summit. During the summit, co-chaired by the Egyptian President Abdel Fattah El-Sisi and Saudi Crown Prince Mohammed bin Salman, with the participation of a number of leaders and officials in the Middle East and abroad, discussed the most prominent environmental problems and climatic challenges facing the region, and their impacts at the global level. https://kirkuktv.net/AR/Details/10454

The President Of The Republic Affirms Iraq's Keenness To Support The Strenuous International Efforts To Confront The Dangers Of Climate Change

Iraq   22:30 - 11-07-2022   His Excellency the President of the Republic, Dr. Abdul Latif Jamal Rashid, met today, Monday, November 7, 2022, with His Majesty King Abdullah II, King of the Hashemite Kingdom of Jordan, on the sidelines of the COP27 Global Climate Summit in Sharm El-Sheikh.

During the meeting, the President stressed the depth and strength of the historical relations and fraternal ties between the two brotherly peoples, and the importance of consolidating means of cooperation in all fields to serve the interests of the two countries.

In the meeting, which was attended by Foreign Minister Dr. Fuad Hussein and Jordan's Crown Prince Al Hussein bin Abdullah, the President indicated that Iraq is keen to unify efforts and support persistent international efforts to reach understandings regarding confronting the dangers of climate change that threaten the region and the world at large.

For his part, His Majesty King Abdullah II expressed his pleasure to meet President Abdul Latif Jamal Rashid, pointing to the distinguished relations between Iraq and Jordan, and the importance of expanding frameworks of cooperation and joint action to achieve the good and benefit of the two brotherly peoples.

During the meeting, they discussed political developments on the regional and international arenas, stressing the need to unify positions on issues of common interest.

https://kirkuktv.net/AR/Details/10449

Al-Sudani And Al-Halbousi Stress The Importance Of Activating The Oversight Role To Support Anti-Corruption Efforts

Political | 12:50 - 08/11/2022  Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani received, on Tuesday, Speaker of Parliament Muhammad Al-Halbousi, who offered "congratulations on the occasion of Al-Sudani assuming his duties and gaining the confidence of the House of Representatives."

According to a statement by Al-Sudani's office, received by Mawazine News, "The two sides held a meeting in which they discussed the overall general situation, and a number of political, service and legislative files that concern public affairs."

The meeting witnessed, "a mutual affirmation of the importance of close cooperation between the legislative and executive authorities, and activating the oversight role, in order to support anti-corruption efforts and meet the important needs of citizens' livelihoods." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=210598

Al-Sudani: The Entrances To Baghdad Are Miserable And There Are Violations In All Areas Of The Capital

Money and business   Economy News _ Baghdad   Today, Tuesday, Prime Minister Muhammad Shia Al-Sudani confirmed that there are violations in all areas of Baghdad, including the Green Zone.

Al-Sudani said in a statement received by “Al-Iqtisad News”, during his inspection visit to the building of the Municipality of Baghdad: “In a country with large revenues and explosive budgets, we find that the service reality in the capital is reluctant, not worthy of its name and history, and that my observations in Baghdad as a follower citizen reveal that the achievement does not equal A lot of money is spent."

He added, "We have identified a situation of intersection in duties and performance between the Municipality of Baghdad and the rest of the ministries, and its impact on the level of services, and we welcome everyone who provides us with solutions to these problems and at a known time,"

noting that "there are abuses in all areas of Baghdad, including the Green Zone, There are major abuses of important real estate that could have generated revenues for the Municipality of Baghdad."

He continued: "The entrances to the capital, Baghdad, are miserable, and all the projects of the previous phase are disbursement of funds tainted by corruption."

And Al-Sudani: "As a ministerial platform, we set general lines in the field of express services implementation, and formed an engineering and service effort team, and gathered mechanisms from various ministries and state departments, and we will focus on projects whose completion rate is 70% or above, through a technical, legal and financial committee that determines the problems." Obstacles and provide solutions according to the authorities.

He pointed out: "The time has come to make a real change in the state's management approach, by making the private sector implement service projects in accordance with the state's vision and planning."    Views 31   Added 11/08/2022 - 12:35 PM   Update 11/08/2022 - 2:09 PM

https://economy-news.net/content.php?id=30667     

"Facing Economic Challenges" And "Climate Change" At The Sudanese Meeting Table And Two Ambassadors

Shafaq News/ The Prime Minister, Muhammad Shia Al-Sudani, separately received the Australian Ambassador to Iraq, Paula Ganley, and the Italian Ambassador to Iraq, Maurizio Cricante.

According to a statement by Al-Sudani's office, the two meetings discussed ways to enhance bilateral relations and consolidate the constructive partnership between Iraq and the two friendly countries. Italy and Australia, for the benefit of the interests of the Iraqi people and the Italian and Australian peoples.

During the two meetings, they discussed paths of joint action with Iraq, in order to confront economic challenges and the effects of climate change, as well as the two countries' continued support for the Sudanese curriculum and its government program in all fields. LINK